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Japanese yen keeps gaining

On Tuesday, the Japanese yen managed to gain moderately against the evergreen buck as well as other currency counterparts during Asia trade, following the highly uncertain result of the upcoming UK referendum next week.  

The greenback sagged to ¥105.88, compared to Monday’s reading of ¥106.25 in New York.

The common currency sank from ¥120.02 to ¥119.53. Meanwhile, the British pound slumped from ¥150.61 to ¥150.16. However, yesterday the sterling dared to rebound from ¥149.48, its lowest value since August 2013.          

While public surveys suggesting a close-fought race in Britain’s referendum scheduled on June 23 kept making market jittery, some are currently shifting their attention back to the Fed’s two-day policy gathering result on Wednesday for any clues regarding the major bank’s next move. Then, traders will shift their attention to the BOJ’s gathering result due Thursday.   

Additionally, Taro Aso, Japan’s finance minister told the country’s government would prevent speculation-driven revenues in the yen.   

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